CAMDEN, N.Y.--(BUSINESS WIRE)--International Wire Group Holdings, Inc. (“IWG” or the “Company”) (OTC PINK:ITWG) announced today that it has entered into a definitive merger agreement to be acquired by affiliates of Atlas Holdings LLC (“Atlas”). Atlas owns and operates 18 manufacturing and distribution businesses, which collectively employ more than 17,000 associates at over 150 facilities worldwide. Under the terms of the agreement, Atlas will acquire all outstanding shares of IWG common stock for $10.70 per share in cash.
The Company’s board of directors unanimously approved the transactions and recommended that stockholders vote in favor of the transaction.
The transaction is subject to customary closing conditions, including approval of the Company stockholders and regulatory approvals. The transaction is expected to close early in the second quarter of 2019 and is not subject to a financing condition.
Houlihan Lokey has acted as financial advisor to IWG. Jones Day acted as legal advisor to IWG and Willkie Farr & Gallagher LLP acted as legal advisor to Atlas.
About International Wire Group Holdings, Inc.
International Wire Group Holdings, Inc., through its subsidiaries, is a manufacturer and marketer of wire products, including bare, silver-plated, nickel-plated and tin-plated copper wire, engineered wire products and high-performance conductors, for other wire suppliers, distributors and original equipment manufacturers. Its products include a broad spectrum of copper wire configurations and gauges with a variety of electrical and conductive characteristics and are utilized by a wide variety of customers primarily in the industrial and energy, electronics and data communications, automotive/specialty vehicles, aerospace and defense, medical products and consumer and appliance industries. The Company has seventeen manufacturing facilities and one distribution facility located throughout the United States, France, Italy and Poland.
Forward-Looking Information is Subject to Risk and Uncertainty
Certain statements in this release may constitute “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words “expect,” “may,” “will,” “would,” “could,” “anticipate” or the negative of any thereof or other variations thereof or comparable terminology, or by discussions of strategy or intentions. Undue reliance should not be placed on any forward-looking statements. These statements are based on management’s current beliefs and assumptions and on information currently available to management as of the date they were made. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions as to future events that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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